Analysis & Opinion

FRANKFURT Dec 19 (Reuters) - German drugmaker Bayer
moved about 1 billion euros ($1.3 billion) in
short-dated securities to its trust fund to boost investment
income and set aside funds for pension obligations.

The company said on Wednesday the move would reduce net
pension obligations in its accounts by about 1 billion euros
from 9.7 billion at the end of September and add 1 billion euros
to net debt.